Sec. 12.030.  RESCISSION OF CHARTER.  (a)  A home-rule school district charter may be rescinded as provided by this section.
(b)  The governing body of the district shall order an election on the question of rescinding a home-rule school district charter if:
(1)  the governing body receives a petition requesting a rescission election signed by at least five percent of the registered voters of the district;  or
(2)  at least two-thirds of the total membership of the governing body adopt a resolution ordering that a rescission election be held.
(c)  As soon as practicable after the date of receipt or adoption of a resolution under Subsection (b), the governing body shall order an election.
(d)  The proposition to rescind the home-rule school district charter shall be submitted to the voters of the district at an election to be held on the first uniform election date that occurs at least 45 days after the date on which the governing body orders the election.
(e)  The ballot shall be printed to permit voting for or against the proposition:  "Whether the home-rule school district charter of (name of school district) shall be rescinded so that the school district becomes an independent school district."
(f)  A home-rule school district charter is rescinded if the rescission is approved by a majority of the qualified voters of the district voting at an election held for that purpose at which at least 25 percent of the registered voters of the district vote.
(g)  The rescission takes effect on a date established by resolution of the governing body but not later than the 90th day after the date of an election held under this section at which rescission of the charter is approved and at which the number of registered voters required under Subsection (f) vote.  As soon as practicable after that election, the governing body shall notify the commissioner and the secretary of state of the results of the election and of the effective date of the rescission.
(h)  The rescission of a home-rule school district charter under this section does not affect:
(1)  the district's boundaries;  or
(2)  taxes or bonds of the district authorized before the effective date of the rescission.
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.